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motusbank Raises GIC Rates
January 10, 2020
11:59 am
krwilson
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FYI – some of motusbank’s rates are changing. Here’s the latest.

Hey Everyone,

We’re all about making sure you’ve got the info you need to manage your money. That’s why we let our awesome motusbank members know when rates have changed.

motusbank has increased their 1 to 5 year Non-Registered and Registered GIC rates! Check out our website for a full list of updated rates.

Rate change

1 Year Non-Registered GIC
Current rate: 2.20%
New rate: 2.30%
As of Jan 10, 2020

1 Year Registered GIC
(TFSA, RRSP, RRIF)
Current rate: 2.25%
New rate: 2.35%
As of Jan 10, 2020

January 10, 2020
7:00 pm
darealmccoy5
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I currently have a TFSA with motusbank with a rate of 2.35% even before Jan 10.

I dont know what's the benefit of increasing their 1 year registered GIC to 2.35% when their regular TFSA rate is already at 2.35%. Unless this rate is anticipated to drop soon...

January 14, 2020
7:32 pm
ReX
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darealmccoy5 said
I currently have a TFSA with motusbank with a rate of 2.35% even before Jan 10.

I dont know what's the benefit of increasing their 1 year registered GIC to 2.35% when their regular TFSA rate is already at 2.35%. Unless this rate is anticipated to drop soon...  

TFSA is registered. Don't forget we live in a digital age...you might have gotten the rate well before Jan 10th, maybe even 30 days before but when they sent the msg to advertise...the date will show as of the time they sent the msg...Jan 10th

February 6, 2020
11:10 am
darealmccoy5
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motusbank has increase their rates again, effective February 7, 2020.

motusbank.PNG

February 21, 2020
1:33 pm
krwilson
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1 Year Non-Registered GIC
Current rate: 2.40%
New rate: 2.55%
As of Feb 24, 2020

1 Year Registered GIC
(TFSA, RRSP, RRIF)
Current rate: 2.45%
New rate: 2.60%
As of Feb 24, 2020

February 21, 2020
3:58 pm
Loonie
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As a general update, here are all their other current non-registered rates. Registered are slightly higher usually.
18-month 2.50%
2-year 2.55%
3-year 2.60%
4-year 2.65%
5-year 2.75%

Am I the only one who hates the idiotic way in which they display their rates, with all the years out of order?

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